Epoch Investment Partners Inc. Sells 5,586 Shares of Adobe Inc. (NASDAQ:ADBE)

Epoch Investment Partners Inc. lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 199,132 shares of the software company’s stock after selling 5,586 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Adobe were worth $88,550,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ADBE. Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the 4th quarter valued at approximately $31,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the fourth quarter worth $31,000. Caitlin John LLC lifted its stake in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after acquiring an additional 48 shares during the last quarter. Avion Wealth boosted its holdings in shares of Adobe by 112.2% during the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after acquiring an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its position in Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 1.3 %

Shares of NASDAQ ADBE opened at $348.80 on Friday. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The stock has a market capitalization of $148.66 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average price of $403.54 and a 200-day moving average price of $450.43.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the business posted $4.48 earnings per share. On average, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel Durn bought 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 in the last ninety days. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADBE. Jefferies Financial Group cut their price target on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus cut their price target on shares of Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Summit Redstone set a $410.00 price objective on Adobe in a report on Wednesday, March 19th. Mizuho reduced their price target on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Finally, Royal Bank of Canada cut their price objective on Adobe from $530.00 to $480.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $513.27.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.